RenaissanceRe Holdings Ltd. (NYSE:RNR) Position Increased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 19.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,311 shares of the insurance provider’s stock after buying an additional 713 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in RenaissanceRe were worth $964,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of RNR. Riverview Trust Co acquired a new stake in shares of RenaissanceRe during the 1st quarter worth approximately $26,000. Rise Advisors LLC bought a new stake in RenaissanceRe in the first quarter valued at $31,000. V Square Quantitative Management LLC acquired a new position in shares of RenaissanceRe during the second quarter valued at $31,000. Mather Group LLC. acquired a new stake in shares of RenaissanceRe in the 1st quarter worth about $34,000. Finally, GAMMA Investing LLC bought a new stake in RenaissanceRe in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on RNR shares. UBS Group dropped their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company decreased their price target on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Morgan Stanley cut their price objective on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI raised their target price on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Finally, Bank of America upped their price target on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $263.40.

Insiders Place Their Bets

In other news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the sale, the chief financial officer now owns 73,915 shares in the company, valued at $16,598,352.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the executive vice president now directly owns 85,544 shares of the company’s stock, valued at $19,675,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the transaction, the chief financial officer now directly owns 73,915 shares in the company, valued at $16,598,352.40. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 0.6 %

Shares of NYSE:RNR opened at $240.58 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 1.30 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $241.53. The company has a 50 day moving average price of $225.58 and a 200 day moving average price of $226.16.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.93 billion. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 38.92 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, September 13th. RenaissanceRe’s dividend payout ratio is presently 3.45%.

About RenaissanceRe

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.